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FEBRUARY 2025 36. ISSUENUROL HOLDING SOLIDIFIES ITS LEADERSHIP IN THE DEFENSE INDUSTRY WITH FULL OWNERSHIP OF FNSSFounded in 1988 as FMC-NUROL Savunma Sanayi, FNSS was established as T%u00fcrkiye%u2019s first private-sector defense company under a joint venture between Nurol (49%) and FMC (51%). Over the years, despite changes in the structure and share distribution of its foreign partner, Nurol Holding has successfully led FNSS from one milestone to another in full harmony with its stakeholders. Today, FNSS is recognized globally as a leading brand in ground defense systems.Until the final months of 2024, FNSS operated under a Nurol (51%) and BAE Systems (49%) partnership, making it one of the longest-running joint ventures in the global defense sector. However, in January 2025, Nurol Holding acquired BAE Systems%u2019 shares, becoming the sole owner of FNSS Savunma Sistemleri A.%u015e.With this acquisition, FNSS an internationally recognized brand%u2014aims to expand into new markets with greater efficiency and strategic focus. This transition will enhance FNSS%u2019s innovation capabilities, strengthen its operational efficiency, and allow the company to seize new opportunities in the defense sector. DEFENSE INDUSTRY NEWS28